Karachi: IGI Life Insurance Limited has announced its latest venture, the Mahaana 101 Islamic Retirement Fund, which is set to make waves in the financial sector. The Securities and Exchange Commission of Pakistan (SECP) granted approval for the Offering Document of the Fund on February 7, 2025, marking a significant milestone for the company. The Fund, developed in partnership with M/s. Mahaana Wealth Limited, operates under the Voluntary Pension System Rules, 2005.

This strategic move by IGI Life Insurance aims to cater to the growing demand for Shariah-compliant retirement solutions in Pakistan. The company, officially registered as 101 Life Insurance Limited, has its headquarters located on the 7th Floor, The Forum, Suite 701-713, G-20, Block 9, Khayaban-e-Jami, Clifton, Karachi - 75600, Pakistan. Saniya Saeed Khan, the Company Secretary, is the designated contact person, reachable via telephone at +(92)-111-711-711 or fax at +(92-21) 111-567-567.

According to information available from the Pakistan Stock Exchange (PSX), IGI Life Insurance Limited is categorized within the designated market category for life insurance. This new Fund is expected to attract significant interest from investors seeking ethical investment opportunities that align with Islamic principles. The partnership with M/s. Mahaana Wealth Limited is anticipated to enhance the company's offerings by integrating comprehensive investment advisory services.

As of March 21, 2023, IGI Life Insurance Limited is actively preparing for the official launch of the Mahaana 101 Islamic Retirement Fund. The company's initiative reflects its commitment to innovation and meeting the evolving needs of its clientele. With the SECP's endorsement, the Fund is poised to become a pivotal player in the Islamic finance market.